Most of us aren’t very good when it comes to financial decision making, hence the proliferation of personal finance magazines, articles, blogs and so forth. All too often, we fritter away our income without any forethought as to our current cash flow or future financial well-being.

But, with the New Year comes a new opportunity to get a grip on your personal finances and build a better financial future. In that gest, here are seven financial resolutions to help you kick-off the New Year.

Establish suitable life goals

No matter what stage of life you’re at, setting suitable life goals is an important first step before making any major decisions in life. Without life goals, people tend to lapse into impulsive behaviours that are seldom beneficial in the long-term. Commit to your goals, write them down and regularly review them, otherwise you merely have wishes, and wishes are rarely granted in real life.

Eliminate your debt

Resolve to lower your debts. Borrowers have been lucky over the last few years due to exceptionally low interest rates, but as interest rates rise, every pound of accumulated debt will become a heavier drag on your entire financial life. From a wealth building perspective, unless you are utilizing credit for productive endeavors, such as profitable investments or business ventures, then eliminating unproductive debt is essential if you plan to retire with even a modicum of wealth.

Build an emergency fund

Life is unpredictable. An emergency fund can lead to greater financial security, so you should commit to building and maintaining an emergency fund (a buffer fund) to cushion you against the financial hiccups – the loss of a job, home repairs or health problems. As a guideline, an emergency fund should cover at least six months of living expenses and be liquid (easily accessible). Even if you are finding it difficult to save you should at least start with something, no matter how small – just £10 a week becomes more than £500 at the end of the year.

Design a budget

The only way to eliminate debt and build an emergency fund is to spend less than you earn, which requires an analysis of your cash flow to establish a budget. Sticking to a budget and spending less than you earn isn’t always easy, but it is crucial if you want to build wealth and live a financially worry free life. By understanding how much money you have coming in and how much is going out, you can better understand how to save and spend your money for your long-term financial benefit.

Diversify your household assets

If the financial crisis has taught us anything, it is the value of diversification. Most people know never to put all their eggs in one basket, especially when it comes to investing. This applies to your entire household finances, too. For example, if you’re in a relationship, you should consider working in different companies, or even industries to your spouse to avoid being doubly caught out by a company failure, or industry downturn. In addition, for most families, their greatest wealth is tied up in their property. Consider opening a NISA account to build up your cash and fund holdings to further diversify your household assets.

Write a will

There are many advantages of making a will – the main one being peace of mind. Financially, if done correctly, wills can be utilized to make savings on inheritance tax. Most importantly, who knows best who to bequeath your assets than yourself, but if you fail to make a will, you’ll be leaving this important decision the laws of intestacy. For most people, writing a will is a simple process, for which there are many free templates available online (Free Legal Documents from CompactLaw). For others with more complex needs, it may be more than worth the cost of using a solicitor.

Invest in a new skill

The world is changing, and nothing is changing faster than the world of work.To stay competitive, you must continue to develop skills that add value to your employer or society at large. If you fail to keep abreast of, and adapt to, industry or technological changes, you may find your skills becoming redundant, which will more than likely have a negative effect on your finances. One of the greatest investments we can make as individuals, is the investment in our human capital.

Here’s everything you need to know in order to make your first million.

While you may be looking to make your first million off of your business alone, the fact of the matter is that becoming a millionaire does not just come about by raking in profits from your business. It arises from the decisions that you make in your day-to-day life as well. There are more millionaires than ever nowadays, and it’s not because the financial market is good; in fact, it is pretty common knowledge that the economy has definitely seen better days, and the people able to find success in it know how to act accordingly. To become the next millionaire, you will need to blend business practices with responsible financial decisions in order to both maximize profits and squirrel away some cash for the winter. Even though this is easier said than done, the things that you have to do to become the next millionaire are theoretically fairly easy.

Buy The Things That You Need

Even though one of the reasons people strive to become millionaires is to be able to afford the things that they want to do, living in a house far too big for your needs or shelling out on a vehicle more luxurious than you require is going to set you back in your goals.

Spend Less Than You Earn

This is saving money and accruing wealth 101, but even old advice can be good advice, and such is the case with this.

Make Sure That You Can Pay Off the Things That You Buy

And the quicker you can pay them off, the better! This will enable you to search for a job that you love and will therefore be more conducive to putting you closer to your goals.

Exercising Patience

It may be really tempting to up your quality of living or your lifestyle expectations as you begin accruing more money and assets to make you into a millionaire, but you will not reach your goal by taking some out of the pot.

Utilize Automatic Paycheck Deductions

You cannot spend what you do not have, so having these set up with your bank is going to help you save money better than many other tactics will.

Pay Off Your Credit Cards Every Month

Having a good credit score is always a strong financial situation to be in, but making sure that you can afford what you are spending is even better when you are trying to become a millionaire.

Use Time to Your Advantage

The quicker you start saving, the better. If you begin saving in your twenties or thirties, you will be able to take advantage of compounding interest and put yourself in a better position without having to do much extra work.

Realize That Money Doesn’t Buy Happiness

When you are working for a wholesome goal instead of a ploy to satisfy material urges, your goals will come to you faster and easier.

Realize That ‘Life Happens’

Having a bit of money on the side separate from your millionaire fund will keep you on a steady track toward that goal; after all, you never know when a financial emergency will rear its ugly head.

Focus on Being Debt Free

Even if you have income coming in every month, if you have any sort of debt, you need to be deducting that from your gain–if it comes out negative, you are not financially free, and will not be able to achieve your millionaire dreams yet. In order to be the next millionaire, you have to make sure that your debts are all paid.

Work Hard And Diligently

If you keep putting in the effort, it will be easier to make amends after a financial mishap.

Get a Second Job

Not only will it add to your savings that much faster, but also if you stay busy you will have no time to spend the money that you are trying to save.

Don’t Be Afraid to Have a Big Vision

Most modest savings plans do not end up panning out as the people who made them would have liked. Having a vision larger than what you can currently deliver will actually be the best way to ensure that you meet your goal.

Have Good Money Management Skills

Keep up to date on what you need to know to manage your money, and realize that without good management, it will never grow or mature into what you would like it to be.

Do What You Enjoy

Working in a field you enjoy will be one of the fastest routes to financial freedom and success, as you will spend more time at work and excel at it, putting you in a better position for promotions and pay increases.

Pay Yourself First

This will keep you satisfied and will help you achieve financial success with your goals.

Go Out And Find Your Money

Simply saving and hoping that it will come to you will never be good enough. You will only receive what you earn.

Invest in Yourself

Without furthering your education or professional development, there will be nothing to set you apart from others, and no reason for your employer to aid you in your goals.

Invest in Property When You Do Buy Assets

Having property on hand is always going to be a good asset, as there are always buyers for property and property values are beginning to climb again, healing from the collapse in 2008. Claire and Polly can help you with this part.

Realize That There Is More Than One Way to Approach a Problem

Being versatile will lead you quickest to the solutions for your problems.

There’s certainly no surefire way to becoming a millionaire. After all, if there was, everyone would be making millions. However, if you manage to blend the right business practices with solid personal finance skills, there’s no telling where you’ll end up. Follow these 20 guidelines, and you, too, can become the next millionaire.

Tackling money issues with your significant other might not seem like fun, but a Kansas State University study found that when couples had significant differences about money at the beginning of their relationship, they were more likely to report poor relationship satisfaction and even higher divorce rates. “It’s not children, sex, in-laws or anything else,” says Professor Sonya Britt, “It’s money—for both men and women.”

Money Fix #1: Know your partner’s “money story”Getting to know each other’s past is important on many levels, but especially when it comes to money—especially if one partner grew up in a different financial situation than the other, as money issues may trigger behavior without either one being aware of why.

Money Fix #2: Reveal your secretsMoney is not the place to keep a bit of mystery in your relationship, and hidden debt will be discovered once you apply for a joint mortgage or other loan. One easy way to avoid this problem is to trade off doing the household finances—not only does this lower the temptation to hide funds or debt, it keeps both partners in the loop if something should happen to the other.

Money Fix #3: Talk more oftenPrioritize the financial topics you need to discuss—bills, credit scores, debt, savings, retirement goals—then make time to discuss them. The services of a qualified financial planner may help you clarify goals and understand how things work in the real world. Whatever you do, make sure to discuss these items on a regular, ongoing basis together.

Money Fix #4: Stick to a budgetHelp each other stick to a budget by deciding which bills to automate and which to pay by mail. Try giving yourselves an allowance each week, and agree to discuss any expenses over that amount. Make sure to set something aside each month for having fun together before you retire!

Money Fix #5: Discuss the “what ifs”Nobody lives forever, and unfortunately, accidents can and do happen. Getting your financial and estate planning ducks in a row with life insurance, burial decisions and a living trust can save your partner innumerable headaches during a very traumatic time. Poor financial decisions, even disputes by interfering family members, can all be avoided with a little planning.

As you can see, most money troubles between couples aren’t insurmountable, and good communication can alleviate most, if not all, trouble spots. Seeking a financial planner, reviewing each other’s credit report, and talking through how to handle finances fairly should be considered an important part of building a healthy relationship.

When the financial crisis swept the nation, it left a trail of destruction from sea to shining sea. One reason it caused so much devastation is because at the time many Americans were living paycheck to paycheck, financing purchases they couldn’t afford.

And while many Americans have finally gotten wise to the importance of saving a buck-today, the personal savings rate is in the 5% range. Eric Tyson wishes it hadn’t taken a crisis to make the message sink in. And he’s adamant that younger Americans learn from the free-spending, debt-accumulating mistakes of folks of all ages.

“For most young people, their 20s are the first time they are completely financially independent,” says Tyson, author of Personal Finance in Your 20s For Dummies. “And it’s not unusual to go a little crazy and start buying-or financing, as the case may be-what you want.

Here are a few tips from Tyson to help you save more and spend less.

Rent smart. When you’re in your early 20s and you don’t have dependents, living in a low-cost fashion is easier than it is later in life. There are many ways to minimize costs if you are renting your living space. Two great ways to keep costs down are living with relatives or having roommates. But no matter who you are living with (and certainly if you are living alone), you should minimize your monthly rent. If you find that you’ve allowed your champagne tastes to exceed your beer budget, so long as you’re completing your current lease, there’s no reason you can’t move to a lower-cost rental. Just be sure to factor in all the costs of moving to and living in a new rental.

Slice homeowner expenses. If you own a home or are about to buy one, you can take many steps to keep your ownership costs down and under control without neglecting your property or living like a pauper. The first step is to buy a home that fits your budget. During the real estate boom of the early- to mid-2000s, many people bought houses they couldn’t truly afford. When the market crashed, some of those people with severely stretched budgets lost their homes to foreclosure because they got in over their heads, fell on hard times and couldn’t afford their monthly mortgage payments.

Cut your taxes. Alongside the costs of owning or renting a home, taxes are the other large personal expenditure for most folks. Everyone gets socked with taxes when earning income and when investing and spending money. That’s the bad news-the good news is that you can reduce the amount of taxes you pay by using some relatively simple yet powerful strategies.

Cook up lower food costs. One way to reduce food expenditures is to avoid eating at restaurants and instead learn to cook for yourself. Making your own food is often healthier (if you make the right meals), and because you put in all that hard work, you end up enjoying the food more. When you go to buy the groceries you’re going to cook up, avoid name-brand products and instead go for store brands. They are usually the same quality (and sometimes the same product) as the name brand at a lower price.

Get up and go for less. Getting to and fro on a daily basis can get expensive if you don’t keep an eye on your expenses. Many people rely on cars for their transportation. Cars can be a tremendous financial burden, especially if you borrow to buy or lease the car. When possible, opting for public transportation is a great way to save money. And in some cities, it allows you to avoid having a car altogether. Another great option is to opt for two wheels instead of four. Riding your bike has the double benefit of saving you money and being great exercise.

Finesse your fashion finances. When you’re starting your first “real” job, it’s only natural to want to look your best. But looking your best doesn’t have to require that you wear only the latest fashions. In fact, you really don’t need to buy a lot of new clothes every year. True fashion, as defined by what people are actually wearing day-to-day, changes quite slowly. In fact, the classics never go out of style. If you want the effect of a new wardrobe every year, store last year’s purchases away next year and then bring them out the year after. Or rotate your clothing inventory every third year.

Budget your fun funds. Having fun and taking time out for recreation can be money well spent. However, if you engage in financial extravagance in the name of fun, you can quickly wreck an otherwise good budget. Spending more money shouldn’t be equated with having more fun. Many movies, theaters, museums and restaurants offer discount prices on certain days and times. And other recreational options, such as visiting with friends, hiking, reading and playing sports can be good for your finances as well as your mental and physical health.

Tame your technology spending. These days it seems like there is a never-ending stream of new gadgets. Unfortunately, though, the cost of these gadgets adds up. Err on the side of keeping your life simple. Doing so costs less, reduces stress and allows more time for the things that really matter in life.

Keep down insurance costs. Insurance is a major and costly part of our lives. There’s health insurance, car insurance, homeowner’s insurance, renter’s insurance-just to name a few, and they all add up.

Seek out professional advice when needed. Although your life may be relatively simple now, sometimes you may have to deal with new challenges, and you may benefit from having a seasoned pro at your side. Tax, legal, business and financial advisors can be worth more than their expense if they know what they’re doing and you pay a reasonable fee.

Be smart about healthcare expenses. When you’re young and in good health, you usually don’t give much thought to healthcare expenses and health insurance. But you have health insurance for a reason, and unfortunately, the cost of healthcare continues to rise faster than overall inflation.

With cooler temperatures, home owners will want to keep a home inviting and cozy, especially if they’re trying to sell it.

But just cranking up the heat can prove costly — particularly this year. Heating costs are on the rise, and more than 90 percent of homes will likely face higher heating expenses during this year’s cold season, according to the Energy Department. For example, households using natural gas will likely see bills 13 percent higher this year than last, paying on average $679 for heat this season.

1. Add area rugs: Hardwood and tile floors can make your home feel cold in the winter. Add some area rugs to provide a warmer barrier between your feet and the floor. Non-skid utility rugs or rubber mats can make kitchen floors more comfortable and safe, according to the ebook.

2. Set ceiling fans to run clockwise: Yes, a ceiling fan can be used in the winter months too and can even help heat your home. The majority of ceiling fans have two settings: Counterclockwise cools rooms in the summer and clockwise can force warm air downward in the winter. Look for a small switch on the ceiling fan to change its direction clockwise for the cooler months.

3. Rearrange furniture: Check the arrangement of the furniture in the home to make sure it’s cozy. Often times, home owners spread out furniture to fill an entire room. Instead, group pieces together to get a warmer feel. Move furniture away from the windows and doors and closer to the fireplace, if there is one in the home.

4. Add moisture to the air: Humid air feels warmer than dry air. Therefore, a humidifier may make a difference. Cool mist and warm mist humidifiers can both be effective in making rooms feel warmer. “A cool mist humidifier is safer — and usually less expensive — because it doesn’t expel hot water or steam vapor that could hurt children or pets,” according to the book.

5. Let the sun shine inside: Use the sun to heat your home by adjusting the home’s curtains to let the sun in. Open south-facing curtains on sunny days. Also, be sure to close curtains at night to provide an extra barrier against wintery winds that are trying to squeeze inside the home.

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Making the decision to buy a new home is a life-altering event…in a good way. But the process can be daunting. Take the following advice from CNNMoney into consideration before heading out on your home-buying journey.

1.Don’t buy if you can’t stay put. Given today’s challenging marketplace, don’t buy a home unless you can commit to staying there for at least a few years. The days of flipping for profit are long gone and you stand to lose money if you sell too soon after buying.

2.Shore up your credit. Securing a mortgage in today’s market requires excellent credit so take the time to clean up your credit report well before you begin looking for a home.

3.Be honest about what you can really afford. The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But CNNMoney recommends using one of the many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

4.If you can’t put down the usual 20 percent, you may still qualify for a loan. There are a variety of public and private lenders who, if you qualify, can provide options in terms of interest rates and down payments.

5.Schools affect home values. Even if children aren’t a part of your life now or in the near future, look at homes in areas supported by a good school system. Good schools are paramount for many homebuyers and have a direct impact on the value of your home.

6.Work with a real estate professional. Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Today’s market requires expert guidance through every stage of the home-buying process.

7.Choose carefully between points and rate. When picking a mortgage, you usually have the option of paying additional points – a portion of the interest that you pay at closing – in exchange for a lower interest rate. If you stay in the house for a long time – say three to five years or more – it’s usually a better deal to take the points, says CNNMoney. The lower interest rate will save you more in the long run.

8.Get pre-approved. This will help you avoid the emotional rollercoaster of falling in love with houses you can’t afford. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

9.Make an educated bid. Work with your real estate professional to make the right opening bid. Bids should be based on the sales trend of similar homes in the neighborhood, so review with your agent sales of similar homes in the last three months.

10.Hire a home inspector. In addition to the appraiser your lender hires, you should also hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.

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Remember the proverbial extra weight that college students pack on their first year away from home? It’s nothing compared with the hefty load of debt that weighs down many students when they leave college four or five years later. Student loan debt, as everyone knows, has reached jaw-dropping proportions: more than $1 trillion, by the government’s latest estimate.
As September marks the annual exodus back to college campuses, the topic of paying for college has been much in the news lately. On Aug. 22,President Obama said he wants a national ratings system in place by 2015 that would rank colleges based on average tuition, loan debt,graduation rates and post-college earnings. And last week, the federal consumer watchdog agency announced a “toolkit” designed to help public service employees – teachers, firefighters, police officers and others – understand their options and get started paying off their student loans.
As government searches for big-picture ways to slim down college debt, here are some closer-to-home tips for trimming the fat from college costs, especially for freshmen. 1. Make a file
Get a file folder and toss in all your receipts for one month. Whether it’s a candy bar or a computer, keep your receipts. After 30 days, pull it out to see what – and where – you’ve spent. If you’re buying too many pricey coffees or fast-food sodas, you’ll see it. Or track your spending in more tech-savvy ways, on sites like Mint.com. Being aware of your daily spending is a way to keep your yearlong costs under control.2. Check it out
Look for banks or credit unions with student-friendly checking accounts, with such perks as no monthly fees, low (or zero) minimum balances or free ATM withdrawals. Some will waive fees on your first-time overdraft. But be aware of any other fees, such as a surcharge for out-of-network ATM withdrawals. Sign up for mobile alerts on your phone, which can ping you if a bill is due or your account is running low.3. Avoid the plastic
At the very least, treat your credit card as a last resort, used only for emergencies. A debit card can limit your spending; when the account runs low, you can’t spend. But there’s more risk if it gets lost or stolen. A credit card, while safer in cases of theft, can be riskier in racking up big bills and costly fees. In 2012, the average college undergraduate was carrying $3,173 in credit card debt,according to Federal Reserve System statistics.4. Meal deals
If you or your parents bought a campus meal plan, use it. Otherwise, it can be just throwing away money. Don’t buy a bigger plan than you need; adjust accordingly every quarter or semester. Keep snacks on hand: peanut butter, crackers, fresh fruit. It can help avoid last-minute trips to fast-food outlets. Sign up for your local grocery store’s rewards card so you’ll get discounts whenever you shop. 5. Use your ID
Not the fake one, but your student card that can qualify for discounts at retailers, theaters, museums and other venues. Many businesses in college towns cater to students by offering discounted deals. It never hurts to ask.6. Cheap books
The cost of new textbooks can demolish any budget. Instead of that new $175 chemistry book, get used textbooks. There are dozens of options, from the campus bookstore or bulletin boards to online sites like Chegg.com, Textbooks.com or Amazon.com. Use a comparison site, like DirectTextbook.com. Be sure you’re looking up the exact edition and ISBN number of the required book. Also be aware of shipping charges.7. Don’t forget ‘free’
When it comes to entertainment, check out free concerts, films, club sports, etc. offered on campus. Join campus groups or clubs; many have no-cost activities and events, often with food. Rather than eating out every weekend, do at-home dinner parties with friends.8. Use your summers
Take some community college classes – for cheap – that will transfer to your university for credit. Some students cobble together enough units to shave off a semester. Perhaps, be a part timer?!9. Get a Part Time Job
You don’t want to neglect classes, but a part-time job can pay for incidentals, boost a résumé, provide some time-management skills. Use your skills, whether it’s babysitting for faculty members, tutoring, teaching guitar or piano, designing websites or dog-walking in local neighborhoods.10. Stay on track
If you change majors or get squeezed out of required classes, graduating in four years can be challenging. But staying on top of graduation requirements can save you from extra semesters that can cost thousands of dollars in extra tuition, rent and other expenses. Check in regularly with your campus advisers to be sure you’re on schedule.11. Find scholarships
Even if your campus didn’t offer you a full ride, don’t give up on college scholarships. Sites like FastWeb.com, Scholarships.com and SallieMae.com let you search by college major, ethnicity, religion, sports or special interests. Don’t laugh: The U.S. Bowling Congress, for instance, offers a $1,000 scholarship to a college student who is an amateur bowler with a GPA of at least 2.5.12. Keep it simple:
Too often, college-bound students buy and bring too much stuff to school. Here’s what Kiplinger’s personal finance magazine says college students don’t need: New textbooks, a high-end computer, a printer, a pricey smartphone plan, cable TV (watch streaming videos on a computer), a car (especially for freshmen), overdraft protection on bank accounts, campus health insurance (assuming coverage under the family’s health plan) and private loans, which carry higher interest rates and less flexible repayment plans than federal loans.

(MCT)—For years, traditional gas-powered tank water heaters have been one of the biggest energy hogs in the home. With tank heaters, you have to pay to heat water you aren’t even using. Not so with a tankless water heater.

“It’s truly an on-demand hot water heater,” says Kyle Whelpley, operations manager for J.F. Denney Plumbing and Heating Inc. in Leavenworth, Kan. “It does nothing until you turn on your hot water. So, when you’re at work, it simply hangs on the wall and doesn’t cost you one penny, compared to a 40- or 50-gallon tank, where, when you’re at work you’re paying for it. Here in the Midwest, a 50-gallon natural gas water heater’s yearly cost is about $360. A (comparably-sized gas tankless) is about $190.”

Tankless water heaters are a fraction of the size of tank systems—roughly the size of a circuit breaker box—and mount to a wall instead of taking up valuable space in the basement or garage. “Some people really like the fact they have their space back, once they get a tankless installed,” says Rob Evans of Mr. Rooter of Columbus, Ga.

The most popular benefit of a tankless water heater, though, is an almost endless supply of hot water it provides by heating the water via an internal heat exchanger. “A tankless water heater is designed so that, if you wanted to, you could take a shower from 8 a.m. until midnight at 115 degrees and it won’t move one degree,” Whelpley says. “It’s truly endless hot water.”
Though gas tankless water heaters cost about twice as much as their conventional predecessors — ranging from $2,500 to $5,000 on average — they are easily repairable compared to a tank unit that usually needs to be replaced when it fails. Tankless heaters last 20 years on average and are more energy efficient, making them more environmentally friendly than the traditional models. Qualifying tankless water heaters are eligible for a $300 federal tax credit. Some utility providers also offer rebates for qualifying purchases.
“A tank water heater lasts about nine years on average,” Evans says. “A tankless generally lasts twice that long. So, even though the initial upfront costs can be quite a bit, over the long haul it’s cheaper because you don’t have to replace the water heater nine years down the road.”

Electric tankless heaters are available as well, but use a lot of power and typically require the electrical service to be upgraded. Electric heaters are best for limited use, such as a small apartment or a point-of-use application like a dedicated sink where you need plenty of hot water.

Tankless water heaters require minimal maintenance, other than periodic flushing to descale them of mineral buildup. A plumber can do that service, typically for around $100 to $150. A handy homeowner can clean the system with vinegar if he or she follows the manufacturer’s recommended guidelines for descaling. It’s also recommended homeowners have a water softener to reduce scale buildup.
“You can tell a difference on ones that have water softeners and ones that don’t have water softeners,” Whelpley says. “When you heat up the water that quickly, you bring the calcium out even quicker.”

Tankless water heaters do require venting and should be placed close to gas lines to operate at their highest efficiency. A licensed plumber who has a good history of working with tankless heaters can help ensure it’s installed correctly and is properly sized to accommodate your family’s needs.

“The biggest thing is to make sure you get somebody that knows tankless and deals with tankless day in and day out,” Whelpley says. “The biggest thing I see is people go to (a big box hardware store) and see a tankless and say, ‘I’ll take that,’ but they don’t know that you have to size it for the house. How many shower heads do you have? How many Jacuzzi tubs do you have? If you go buy one off the shelf that’s a 5-gallon a minute when you really need a 9-gallon a minute and you have one person taking a shower in the master bathroom and another person goes to take a shower in the guest bathroom, you won’t have (enough water pressure).”

10 Low-Effort Ways to Save Energy

I know we have cheated Mr. Winter up to now, but you know it will be pay back very soon. Below find 10 things you can do right now to cut down on your heating and power costs when winter does return. And you won’t break the bank or much of a sweat.

1. Lock the windows. Even when a window is closed, a little space remains between the sashes where air can leak in. Simply locking the window pulls the sashes tightly together.

2. Unplug. Many appliances, electronics and other electrical devices — even cell phone chargers—draw power even when they’re turned off. Unplugging them when they’re not in use eliminates this vampire power drain. Granted, that’s not always easy or even possible to do. But where it’s practical, you can plug more than one device—say, your TV and DVD player —into an accessible power strip. With the flip of just the strip’s power switch, you cut the power to everything plugged into it.

3. Wash in cold. If you’re used to washing with warm water, you can probably switch to cold without noticing a difference. And no matter what temperature you wash your clothes in, you can always rinse in cold. You’ll save on the energy that would have gone into heating the water. There’s a bonus: Cold water saves wear on your clothes, so they’ll last longer. Or at least they’ll be in better shape to donate to charity when you just have to replace them when this season’s new fashions. I wouldn’t suggest abandoning hot-water washes altogether, though. I’d still use hot for towels, bedding, underwear and laundry with oily stains. Want to save even more? Skip the dryer and hang the clothes to dry.

4. Dim the lights. A dimmer works by reducing the power flowing to a lamp or light fixture. If you don’t need full brightness, turn the lights down a little. Maybe I should do that with the lights over my bathroom mirror. One note: Not all compact fluorescent bulbs work with dimmers. If you use CFLs, check the package to make sure you’re buying the dimmable kind. Oh, and take Dad’s advice: Turn off any lights you don’t need.

5. Turn off the computer.
When you’re done surfing the Net and updating your Facebook status for the day, shut down your computer. Better still, activate its system standby or hibernating feature to save power when the computer is on during the day. Of course, you don’t want to turn off the computer if you’ve scheduled automatic maintenance checks that happen at night.

6. Rearrange the furniture.
A forced-air system works best when air can flow freely from registers and into cold-air returns. Make sure your furniture isn’t blocking these vents. The same thing applies to radiators. If you block them with furniture, you block their heat.

7. Change the furnace filter.
The filter’s primary purpose is to trap dust and other gunk before it gets to the furnace. Dirty filters impede air flow, causing the furnace blower to work longer. Dirty parts also wear out faster. By keeping them clean, you’ll cut down on furnace repair costs and reduce the chance of a furnace failure — which, of course, always happens on the coldest day of the year. Change the filter monthly, or clean it if it’s a reusable type.

8. Turn down the tank.
For most homes, a setting of 120 degrees is plenty hot for a water heater. The only exception is if you have a dishwasher without a booster heater. Check the user manual to find out whether you need hotter water. When the water isn’t as hot, mineral buildup and corrosion slow. That helps your water heater run better and last longer.

9. Let the sun shine in.
The sun is a powerful heating source, even in winter. Opening window coverings on sunny days lets you take advantage of that free heat, reducing the amount your furnace needs to produce. Close those coverings at night to help keep the heat inside.

10. Avoid the range.
As much as possible, skip using the stove or oven and opt instead for smaller cooking appliances—slow cookers, microwave ovens, toaster ovens and the like. They use less energy than that big appliance.

Come to think of it, saving energy sounds like a great excuse for eating out. There go the savings.